India wholesale prices rise 9.87% year-on-year in June

NEW DELHI: India’s wholesale price inflation neared a double-digit rise at 9.87% year-on-year in June, driven by higher food prices even as energy costs eased, government data showed on Tuesday.

The rate of wholesale price increase was higher than the 9.68% rise a month ago and economists’ projection of 9.15%.

Wholesale food prices rose 6.14% year-on-year in June after rising 4.49% in May.

Prices of manufactured products rose 7.48% year-on-year in June, level with the 7.48% year-on-year rise a month ago.

Fuel and power prices increased 27.41% year-on-year in June, as against a rise of 30.33% a month ago.

India’s net direct tax collections rise over 16% y/y in April-July

Petroleum and natural gas prices rose 34.75% year-on-year in June after a 61.51% increase in May.

Producer prices in June rose 9.57% year-on-year against a 9.38% rise in the previous month, according to Reuters’ calculation.